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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: High-Tech East who wrote (15723)1/12/2003 8:56:32 PM
From: J.T.  Read Replies (1) of 19219
 
In 1942, well into WWII, we launched out of a 4 year cycle low, notable NYSE Member buying, and pierced the 1938 lows shake and bake getting Bears all lathered up only to miss the launch in 1943.

Going into the October 2002 lows, the Bears got all lathered up on the July 2002 pierce only to get the shake and bake after calling for Bull toast and COMP sub 1,000 and DOW 5,000 and SPX 700.

In 1949, we came out of a rising 1945 - 1946 low, and there was massive NYSE Member buying that made 1942 Member buying look like chump change. 1949 saw NYSE Member buying 16 weeks in a row as the market wratcheted into the 49 low and continued buying coming out of the 49' hole as it has in July October 2002 and beyond.

2002 massive NYSE Member accumulation is quite similar to 1949 in its depth, duration and intensity and we all know the market skyrocketed in the 1950's. 2003 the first few weeks has caught many by surprise as the launch is accelerating.

Keep in mind we have had NYSE member net accumulation every year since 1995 except 1997, but it was 2002 that put the exclamation point to the greatest impending heist in the history of the stock market as the market will bear out later in this decade.

Now 2003 the market is dancing to the beat of a different drummer and the Bears are out in full force with greater veracity than ever before.

Best Regards, J.T.
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